If the association's lien for assessments is foreclosed, the unit owner has the right to repurchase (redeem) the unit with 90 days of the foreclosure sale. If the association is the purchaser, the owner must pay all amounts due to the association at the time of the foreclosure sale in order to redeem, including interest from the date of redemption, as provided in the declaration for delinquent assessments; and reasonable attorney fees and costs incurred by the association in foreclosing the lien.

If a party other than the association is the purchaser, the redeeming owner must pay to that purchaser of the unit, the amount equal to the amount bid at the foreclosure sale, interest of that amount at the rate of six percent, any assessments paid to the purchaser after the date of foreclosure, and any reasonable costs incurred by the purchaser as the owner of the unit including the cost of maintenance and leasing.

The redeeming owner must also pay to the association all assessments that are due as of the date of the redemption, including reasonable attorney fees incurred by the association in foreclosing the lien.

You should speak to a real estate attorney, Reatlor and a reputable and experienced Escrow Officer if you have questions about buying a foreclosure or if you are being foreclosed on.